HomeMy Public PortalAbout78-1111
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RESOLUTION NO. 78-111
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARSON
CALIFORNIA, ESTABLISHING A LIABILITY INSURANCE RESERVE FUND. '
WHEREAS, effective 1 JULY 1978 , the City of Carson
has undertaken to become self insured to a limited extent for the purposes of
public liability insurance; and
WHEREAS, the contract authorized by the City Council provides for a
$50,000.00 self insured provision; and
WHEREAS, to carry out the provisions of said self insurance program, it
is required that the City establish a formal loss fund to pay losses within the
self insured retention and prohibit the use of these funds for any other purrpose
until the losses are actually paid; and
WHEREAS, it is estimated that$50,000.00would be adequate to establish
said formal loss fund, which will be entitled "The Liability Insurance Reserve
Fund"; and
WHEREAS, this City Council is desirous at this time and deems it to be
in the best public interest to so establish said Liability Insurance Reserve
Fund;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Carson California, as follows:
1. That the above recitations are true and correct.
2. That there is hereby established a formal loss fund to pay losses
within the City's self insured retention to be entitled "The Liability Insurance
Reserve Fund" in the amount of $50,000.00 This fund is to be utilized for
this purpose only and cannot be expended for any other purpose until losses
within the self insured retention are actually paid.
PASSED, APPROVED and ADOPTED this
of .lune , 1978.
ATTEST:
�G. 1
CITY JCLR�K��
29th_ day
Page 2/Resolution No. 78-111
of 2
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF CARSON )
I, Helen S. Kawagoe, City Clerk of the City of Carson, California, do
hereby certify that the whole number of members of the City Council of said
City is five; that the foregoing resolution, being Resolution No. 78-111, was
duly and regularly adopted by the City Council of said City at an adjourned
regular meeting of said Council, duly held on the 29th day of June, 1978, and
that the same was so passed and adopted by the following roll call vote:
AYES: Council Members: Bridgers, Marbut, Calas and Yamamoto
NOES: Council Members: None
ABSENT: Council Members: Smith
ty Clerk, City of C rson, California
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